FT : Rome dismisses operator’s €500m Genoa bridge recovery offer

Rome dismisses operator’s €500m Genoa bridge recovery offer
Autostrade says collapsed viaduct in Genoa can be replaced within eight months

Italy’s coalition government has rejected an initial offer of €500m from Italy’s biggest motorway operator Autostrade per l’Italia for building work and compensation after the collapse of a motorway bridge in Genoa killing 43 people.

Matteo Salvini, deputy prime minister and leader of the far right League, called it “a minimum wage offer”. Luigi Di Maio, leader of the Five Star Movement and the other deputy prime minister, said the state would not accept “charity” from Autostrade.

“We demand credible redress and there will be no bartering,” Mr Di Maio said.

Last week’s collapse of the Morandi viaduct led to recriminations from government figures against Autostrade, the road operator charged with maintaining the motorway, and the Benetton family, which owns more than 30 per cent of Autostrade’s parent company Atlantia. Shares in Atlantia fell more than 20 per cent after Rome threatened to revoke Autostrade’s licence.

After a state funeral on Saturday for some of the victims of the collapse Giovanni Castellucci, Autostrade’s chief executive, said the company had established a fund for the “immediate needs of the victims, to be administered by the municipality”, and a compensation fund for all those who had lost their houses.

While expressing “profound sadness”, Mr Castellucci did not take responsibility for the accident on behalf of Autostrade. He pointed out that the bridge was built in the 1960s, by another entity, and said an “in-depth investigation” was needed to establish fault.

Italy’s coalition government has rejected an initial offer of €500m from Italy’s biggest motorway operator Autostrade per l’Italia for building work and compensation after the collapse of a motorway bridge in Genoa killing 43 people.

Matteo Salvini, deputy prime minister and leader of the far right League, called it “a minimum wage offer”. Luigi Di Maio, leader of the Five Star Movement and the other deputy prime minister, said the state would not accept “charity” from Autostrade.

“We demand credible redress and there will be no bartering,” Mr Di Maio said.

Last week’s collapse of the Morandi viaduct led to recriminations from government figures against Autostrade, the road operator charged with maintaining the motorway, and the Benetton family, which owns more than 30 per cent of Autostrade’s parent company Atlantia. Shares in Atlantia fell more than 20 per cent after Rome threatened to revoke Autostrade’s licence.

After a state funeral on Saturday for some of the victims of the collapse Giovanni Castellucci, Autostrade’s chief executive, said the company had established a fund for the “immediate needs of the victims, to be administered by the municipality”, and a compensation fund for all those who had lost their houses.

While expressing “profound sadness”, Mr Castellucci did not take responsibility for the accident on behalf of Autostrade. He pointed out that the bridge was built in the 1960s, by another entity, and said an “in-depth investigation” was needed to establish fault.